<p>
BIO President and CEO Jim Greenwood released the following statement on action by the U.S. Circuit Court of Appeals last night to&nbsp;stay the lower court&rsquo;s injunction on federally funded embryonic stem cell research...</p>

WASHINGTON, D.C. (Wednesday, September 29, 2010) - Biotechnology Industry Organization (BIO) President and CEO Jim Greenwood released the following statement on action by the U.S. Circuit Court of Appeals last night to stay the lower court’s injunction on federally funded embryonic stem cell research:

“We are pleased that the Court of Appeals lifted the lower court’s injunction which, in effect, allows the federal government to continue funding research utilizing embryonic stem cells while the underlying litigation proceeds at the district court.

“BIO plans to file an amicus brief at the appropriate time to explain the harm that the lower court’s initial reading of the law would cause to the future ability of our member companies to innovate on behalf of patients. We also urge Congress to pass legislation as soon as possible explicitly authorizing the use of federal funds for this critical research.

“Patients are waiting for new therapies, and possibly even cures, that could result from embryonic stem cell research. We need to ensure that researchers in labs across the country are able to explore all promising avenues of stem cell research without fear that federal funding could again be suddenly halted.”